Dizzy moneying

Today we have a little guest post, all about money! And ways in which to save and make your money go just that little bit further.

We hope you enjoy this blog, and let us know all about your own money saving suggestions! 🙂 xxx

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Sometimes we know what life is going to throw at us, and other times we don’t (such as with Covid-19). Unfortunately, many of us start saving a little too late. However, no matter when you start saving, you can make a big difference to your future self. Your personal finance plans will likely need to have a bit of a rejig from time to time when life throws those curveballs at you. 

Here are some quick tips for increasing income, and saving money. 

Budgeting

It might sound boring, but a budget can change everything about your finances. A budget is simply looking at how you save or spend your money. What you have coming in, and what you have that will be going out. 

When you create a detailed budget, it gives you the chance to make smarter decisions when it comes where you spend your money. Your budget will stop you spending money you don’t have on things you don’t need. 

But it can also allow you to truly take stock of your assets and look for areas that you can increase your income too. 

The quickest way to create a budget is on paper, but you can spice it up and create something pretty using software to make one. 

You can find some great budgeting applications too. 

Make More Money

If only it was that simple. Well, actually it might be. Some people call it the side hustle, others call it a small business. Whatever you call it, working from home can be a fantastic experience. If you aren’t able to commit to a full-time job, or even a part-time job, then a small enterprise of your own might just work well. 

Here are some great options when it comes to turning your skills into cash:

Becoming a Virtual Assistant – You can do this from home, and in many cases only offer a select amount of hours per week. If you have some skills in organization, attention to detail and some social media skills, then virtual assistants are coveted. 

Blogging – not only can this be a great outlet, but writing can also earn some great money. You can sign up as a writer for content companies, or fly colour writing about what you know best. Putting advertisements on your blog can bring in passive income too. 

Teach English Online – You might need to dedicate some time to get a qualification on teaching English as a second language, but after that, you can set your own times and get all of the joy that teaching brings. This is a great way to interact with a wide range of cultures too. 

 Investing

The fun thing about investing is that it can be done with as little as £5. There are investments to suit all budgets, and in some cases, you can use applications to make it automated. Of course, you should never invest more than you can afford to lose. Property, of course, will always be one of the most common investments from studios to an affordable condo, it can be an excellent income for when you retire. 

Savings

There are many ways that can make the most of any amount of money. Here are a few approaches that people find work and they can be used for more significant amounts of cash, and smaller denominations too. 

• Auto savings with your bank – many bank accounts come with the option to automatically save a predetermined amount per month, or you can simply set up a savings account and a standing order for X amount per month. 
• Auto savings app – Plum and Cleo are just two of the intelligent auto savings apps available. They both automatically calculate how much you can really afford to save each week, using your income and outgoing to calculate it. Then they simply transfer it. You can access these saving pots at any time, but they might take up to three days to arrive back in your bank. 
• Separate Bank Accounts – If you want to keep everything very clean, you can have one bank account for income, and another for outgoing. Transfer the exact amount each month that will cover your outgoings, and what is left in your income account is the disposable spending money (or ripe for saving!). 

Meal Planning

This likely won’t come as a surprise, but if you aren’t meal planning already, you are seriously missing out on savings. When you plan your meals, you are less likely to overspend on food items you don’t need. Even more so when cruising the aisle of the supermarket. 

We are creatures of impulse and sometimes and offer might just tempt us into buying something that we wouldn’t normally. Stick firmly to your meal plan, and you will see the benefits over the space of the year. 

30 Day Wait

Curb your impulse buying by putting a limit on how long you have to wait between the ‘want’ and the purchase. Most of the time we will buy something that we don’t really need, but instead, we want. This causes us to spend money unnecessarily. The 30-day wait can help you manage your excess spending better.